Eureka! Save Time with Electronic Bank Reconciliation

 

Reconciling your bank accounts is probably one of the most tedious, but important, tasks a bookkeeper has to do. It can often take hours to complete depending on the number of bank accounts and amount of transactions.

The Electronic Bank Reconciliation feature in Rent Manager®eliminates most, if not all, of the tedious work by pre-reconciling your accounts.

Just open the Electronic Bank Reconciliation form by going to Activities > Bank > Electronic Reconciliation. Select the account you wish to reconcile. Then, after you’ve downloaded either a .csv or .qif version of your bank statement from your bank’s website, select Import Bank Trans to import your bank statement. Then select Apply to begin the reconciliation.

Rent Manager will automatically match up all transactions by amount, date, and transaction amount. Any transactions that don’t match completely during the electronic reconciliation will be noted for you to address individually.

This feature can literally reduce hours to minutes!

 

Photo credit: i am real estate photographer / Foter / CC BY